3M BREACHES U.S LAWS TO PAY $28.8M FINE

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3M BREACHES U.S LAWS TO PAY $28.8M FINE

 user 2006-08-30 at 12:04:00 pm Views: 48
  • #16351

    3M to pay $28.8 million settlement
    August 2006 — St Paul (MN): 3M has been given final approval to settle a class action antitrust lawsuit for $28.8 million.
    Meijer,
    the Mid-West grocery and general merchandise retailer, claimed that 3M
    breached American antitrust laws by attempting to monopolise the tape
    market.In 1999 an antitrust case issued a verdict against 3M, ruling in
    favour of LePage’s, a rival tape maker, to the sum of $68.4 million
    following claims that 3M used customer rebates illegally to secure a 90
    percent share of the private label tape market.